Oscar Geer, a mid-level product manager for Theresa's Shoes, thinks his company should switch from LIFO to

Question:

Oscar Geer, a mid-level product manager for Theresa's Shoes, thinks his company should switch from LIFO to FIFO. He says, "My bonus is based on net income. If we switch it will increase net income and increase my bonus. The company would be better off and so would I." Is he correct? Explain.